NOT LISTED FOR SALE

509 Simpson Ave Memphis, TN 38106

South Memphis Neighborhood

Estimated Value: $103,000 - $117,000

8 Beds
3 Baths
2,200-2,399 Sq Ft
$47/Sq Ft Est. Value

Last Sold September 27, 2024

Last sale price $113,000 $47 Per Sq Ft

Current estimated payment $580/month

135 Days on Market

Highlights

  • Traditional Architecture
  • Porch
  • Tile Flooring
  • Some Wood Windows
  • Eat-In Kitchen
  • Central Heating and Cooling System

About This Home

As of September 2024

Great Opportunity for Investors with this Gem near Stax Museum and Lemoyne Owen College. This 2 story house could be used as a Rooming House or Housing for college students with 8 separate nice size rooms and 3 Full Bathrooms. Includes Eat in Kitchen area and Laundry Room. Maybe minor cosmetic work needed. Lot for sale next to property with same owner. House is occupied please do not disturb tenants. Owner / Agent

Last Agent to Sell the Property

Robert Newman

RP Newman Realty LLC License #317919 Listed on: 05/13/2024

Last Buyer's Agent

Jasmine Walker

REMAX Experts License #369395

REMAX Experts

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1942

Lot Details

  • 8,059

Parking

  • Driveway

Home Design

  • Traditional Architecture
  • Property Attached

Interior Spaces

  • 2,200-2,399 Sq Ft Home
  • 155 Sq Ft Home
  • 2-Story Property
  • Some Wood Windows
  • Tile Flooring
  • Eat-In Kitchen

Bedrooms and Bathrooms

  • 8 Bedrooms | 6 Main Level Bedrooms
  • 3 Full Bathrooms

Additional Features

  • Porch
  • Lot Dimensions are 72x112
  • Central Heating and Cooling System

Community Details

  • Tigg Subdivision

Property Details

Home Type

Multi-Family

Year Built

Built in 1942

Lot Details

8,059 Sq Ft Lot

Listing Details

  • Class: Residential
  • Type: Attached Single Family
  • Style: Traditional
  • MAAR Subdivision Name: Tigg
  • Number Of Stories: 2
  • Prop Construction Status: Existing Property
  • Estimated Sq Ft: 155
  • Year Built: 1942
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Additional Bedroom Bathroom Info: 1 or More BR Down
  • Estimated Heated Sq Ft Range: 2200-2399
  • Bedrooms: 8
  • Bedrooms Down: 6
  • Floors/Ceilings: Tile
  • Full Bathrooms: 3
  • Living Dining Kitchen: Eat-In Kitchen
  • P R I M A R Y B E D R O O M: Full Bath

Exterior Features

  • Misc Exterior: Porch
  • Exterior Windows: Wood/Composition

Garage/Parking

  • Parking Storage: Driveway/Pad

Utilities

  • Cooling: Central
  • Heating: Central

Lot Info

  • Lot Size: 72x112
  • Geo Subdivision: TN

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 13, 2024
Closed on
Sep 26, 2024
Sold by
4821 Llc
Bought by
Hope Foundation Properties Llc
Seller's Agent
Robert Newman
RP Newman Realty LLC
Buyer's Agent
Jasmine Walker
REMAX Experts
List Price
$125,900
Sold Price
$113,000
Premium/Discount to List
-$12,900
-10.25%
Views
184
Current Estimated Value
$112,583

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$417
Avg. Annual Appreciation
-0.25%
Original Mortgage
$85,125
Outstanding Balance
$84,062
Interest Rate
6.35%
Mortgage Type
New Conventional
Estimated Equity
$28,521

Purchase Details

Listed on
May 10, 2019
Closed on
Jul 3, 2019
Sold by
Towd Point Mortgage Trust 2017 Fre2 and U S Bank National Associa Tion
Bought by
4821 Llc
Seller's Agent
Tony Sansone
The Carter Group LLC, REALTORS
Buyer's Agent
Michael Gardner
RP Newman Realty LLC
List Price
$14,500
Sold Price
$18,100
Premium/Discount to List
$3,600
24.83%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
41.46%
Interest Rate
3.75%

Purchase Details

Closed on
Mar 19, 2019
Sold by
Shephard Winston
Bought by
U S Bank National Association

Purchase Details

Closed on
Apr 23, 2007
Sold by
Fannie Mae
Bought by
Shephard Winston

Purchase Details

Closed on
Nov 20, 2006
Sold by
Bell Monique A Swaby
Bought by
Federal National Mortgage Association

Purchase Details

Closed on
Oct 21, 2003
Sold by
Bell Leniece Payne
Bought by
Bell Frederick Barsha and Bell Monique Swaby

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$58,500
Interest Rate
5.75%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Oct 30, 2002
Sold by
Bell Frederick
Bought by
Bell Lenicce Payne

Purchase Details

Closed on
Feb 17, 1998
Sold by
Fairbanks Capital Corp
Bought by
Bell Frederick and Bell Leniece P

Purchase Details

Closed on
Feb 6, 1998
Sold by
Hfta First Financial Corp
Bought by
Fairbanks Capital Corp

Purchase Details

Closed on
Jan 28, 1998
Sold by
Transamerica Financial Services
Bought by
Fairbanks Capital Corp

Purchase Details

Closed on
Apr 11, 1997
Sold by
Geurin Wendy A
Bought by
Transamerica Financial Services
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Hope Foundation Properties Llc $113,500 Preferred Title
4821 Llc $18,100 --
U S Bank National Association $19,800 None Available
Shephard Winston $22,500 None Available
Federal National Mortgage Association $63,825 None Available
Bell Frederick Barsha -- --
Bell Lenicce Payne -- --
Bell Frederick $4,500 --
Bell Frederick $4,500 --
Fairbanks Capital Corp -- --
Fairbanks Capital Corp -- --
Fairbanks Capital Corp -- --
Fairbanks Capital Corp -- --
Transamerica Financial Services $13,000 --
Transamerica Financial Services $13,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Hope Foundation Properties Llc $85,125
Previous Owner 4821 Llc --
Previous Owner Bell Frederick Barsha $58,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
09/27/2024 09/27/24 Sold $113,000 -10.2% $51 / Sq Ft
05/13/2024 05/13/24 For Sale $125,900 +595.6% $57 / Sq Ft
06/17/2019 06/17/19 Sold $18,100 +24.8% $8 / Sq Ft View Prior Sale
06/01/2019 06/01/19 Pending -- -- --
05/10/2019 05/10/19 For Sale $14,500 -- $6 / Sq Ft
Source: Memphis Area Association of REALTORS®

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $6 $28,300 $1,325 $26,975
2024 $368 $10,850 $750 $10,100
2023 $661 $10,850 $750 $10,100
2022 $661 $10,850 $750 $10,100
2021 $786 $10,850 $750 $10,100
2020 $793 $10,950 $750 $10,200
2019 $350 $10,950 $750 $10,200
2018 $350 $10,950 $750 $10,200
2017 $358 $10,950 $750 $10,200
2016 $593 $13,575 $0 $0
2014 $593 $13,575 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Robert Newman

    Seller's Agent in 2024

    Robert Newman

    RP Newman Realty LLC

    (901) 647-7920

    1 in this area

    2 Total Sales

    Robert Newman
    Section Image

  • J

    Buyer's Agent in 2024

    Jasmine Walker

    RE/MAX

    (901) 500-0158

    1 in this area

    35 Total Sales

    Jasmine Walker
    Section Image

  • T

    Seller's Agent in 2019

    Tony Sansone

    The Carter Group LLC, REALTORS

    Section Image

  • M

    Buyer's Agent in 2019

    Michael Gardner

    RP Newman Realty LLC

    (931) 302-6692

    2 in this area

    20 Total Sales

    Michael Gardner
    Section Image
See All Agents

Map

Source: Memphis Area Association of REALTORS®

MLS Number: 10172287

Memphis Area Association of REALTORS®

APN: 02-5041-0-0012

Tennessee Shelby County Memphis 38106 South Memphis

509 Simpson Ave, Memphis, TN

Not Listed for Sale

MultiFamily

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